TCW Appointed Sub-Advisor for Columbia Management Fund

TCW Press Release

March 20, 2014

LOS ANGELES – March 20, 2014 – The TCW Group, Inc., a global asset management firm, today announced that it has been appointed by Columbia Management to sub-advise on a fund within the Columbia Funds Variable Series Trust II. In that role, TCW will manage the TCW Core Plus Bond Fund, a fixed income fund with approximately $1.3 billion in assets as of December 31, 2013.

The TCW Core Plus Bond Fund was previously known as the PIMCO Mortgage-Backed Securities Fund. Initially launched in 2010, the fund had invested significantly in highly-rated mortgage instruments and seeks to provide shareholders with total return through both income and capital appreciation.

Within its mutual fund families, TCW manages several Morningstar five star-rated bond funds, including the MetWest Total Return Bond Fund and the TCW Total Return Bond Fund. Over the past three years, the MetWest Total Return Bond Fund outperformed 95% of its peers, and the TCW Total Return Bond Fund outperformed 98% of its peers.

David Lippman, Chief Executive Officer of TCW, said, “We are pleased to continue to expand our partnership with Columbia Management and look forward to putting our industry-recognized expertise in fixed income to work for the benefit of investors in the TCW Core Plus Bond Fund.”

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About the TCW Group
Founded in 1971, The TCW Group, Inc. develops and manages a broad range of innovative, value-added investment products that strive to enhance and protect clients’ wealth, with over $130 billion in assets under management. TCW clients include many of the largest corporate and public pension plans, financial institutions, endowments and foundations in the U.S., as well as a substantial number of foreign investors and high net worth individuals. For more information, please visit www.tcw.com.

About Columbia ManagementColumbia Management is a leading investment manager with $356 billion under management as of December 31, 2013 and the eighth largest manager of long-term mutual fund assets in the U.S. The firm serves a wide range of individual, institutional and high-net-worth clients, and seeks to generate consistent, competitive investment returns through a rigorous, research-driven investment process and disciplined risk management. Columbia Management is a subsidiary of Ameriprise Financial, Inc. (NYSE: AMP). For more information, please visit columbiamanagement.com.

Obtain a ProspectusYou should consider the investment objectives, risks, charges and expenses of a mutual fund carefully before investing. The TCW Total Return Bond and MetWest Total Return Bond Funds’ Prospectus and Summary Prospectus contain this and other information about the Funds. To receive a Prospectus, please call 800-386-3829 for TCW Funds or 800-241-4671 for MetWest Funds or you may download the Prospectus from the Funds’ website at TCW.com. Please read it carefully.

Additional information about the Columbia Fund’s Variable Series Trust II investments is available in the Fund’s annual and semiannual reports to shareholders. In the annual report, you will find a discussion of the market conditions and investment strategies that significantly affected the Fund’s performance during its last fiscal year. The SAI also provides additional information about the Fund and its policies. The SAI, which has been filed with the SEC, is legally part of this prospectus (incorporated by reference). To obtain these documents free of charge, to request other information about the Fund and to make shareholder inquiries, please contact the Fund as follows:

The Fund’s offering documents and shareholder reports are not available on the Columbia Funds’ website because they are generally available only through insurance companies or retirement plans.

A Word About Risk
Funds investing in U.S. government-guaranteed securities, including the TCW Total Return Bond Fund and the MetWest Total Return Bond Fund, are neither insured nor guaranteed by the U.S. Government and neither the Fund nor its yield is guaranteed by the U.S. Government.

Mortgage-backed and other asset-backed securities often involve risks that are different from or more acute than risks associated with other types of debt instruments. MBS related to floating rate loans may exhibit greater price volatility than a fixed rate obligation of similar credit quality. With respect to non-agency MBS, there are no direct or indirect government or agency guarantees of payments in pools created by non-governmental issuers. Non-agency MBS are also not subject to the same underwriting requirements for the underlying mortgages that are applicable to those mortgage-related securities that have a government or government-sponsored entity guarantee.

The MetWest Funds are distributed by Foreside Fund Distributors, LLC. which is not affiliated with TCW. The MetWest Funds are advised by Metropolitan West Asset Management, LLC, which is a wholly-owned subsidiary of The TCW Group, Inc.